Man arrested for online scams, acting as money mule
A 38-year-old Malaysian has been arrested for his suspected involvement in several money laundering cases, police said on Tuesday (Sept 12).
Between April and May this year, five victims - under the man's instructions - transferred a total of $36,000 through various online scams to several bank accounts.
He then moved the money out of Singapore, after collecting them from the bank account owners.
Officers from Central Police Division managed to identify the suspect after extensive enquiries, and arrested him at Woodlands Checkpoint on May 22.
Preliminary investigations showed that the man acted as a money mule, by facilitating the receipts of money from suspicious sources while receiving instructions from his friend in Malaysia.
If convicted of dishonest receipt of stolen property, he could be jailed up to five years and/or fined.
If found guilty of removing benefits of criminal conduct from the jurisdiction, he could be fined up to $500,000 and/or jailed up to 10 years.